Endava PLC Sponsored ADR (NYSE:DAVA) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts give Endava an average recommendation of "Hold" (10 firms: 1 sell, 6 hold, 3 buy) with an average 12‑month price target of $15.71, though several brokers have recently trimmed targets (e.g., JPMorgan to $9, Needham to $7, Guggenheim to $13).
• Shares trade around $4.51, near the one‑year low of $4.21 and well below analyst targets, with a market cap of about $253M, a negative P/E, and 50‑/200‑day moving averages of $5.10/$6.76.
• Institutional investors own about 62.23% of the stock, and several funds materially adjusted holdings recently (Paradice +19.5% to 1.87M shares; Prescott +100.3%; Quadrant and EverSource also added positions).

Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report) has been given an average recommendation of "Hold" by the ten research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $15.7143.

DAVA has been the topic of a number of analyst reports. Wall Street Zen raised shares of Endava from a "sell" rating to a "hold" rating in a research note on Sunday, February 8th. JPMorgan Chase & Co. dropped their target price on shares of Endava from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Friday, February 20th. Needham & Company LLC cut their price target on shares of Endava from $9.00 to $7.00 and set a "buy" rating on the stock in a research report on Thursday, February 19th. Finally, Guggenheim decreased their price target on Endava from $15.00 to $13.00 and set a "buy" rating for the company in a report on Friday, February 13th.

Institutional Investors Weigh In On Endava

Hedge funds have recently added to or reduced their stakes in the business. Paradice Investment Management LLC grew its position in shares of Endava by 19.5% during the 3rd quarter. Paradice Investment Management LLC now owns 1,871,926 shares of the company's stock worth $17,035,000 after buying an additional 306,066 shares during the period. Prescott Group Capital Management L.L.C. lifted its position in shares of Endava by 100.3% during the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 1,216,354 shares of the company's stock valued at $11,069,000 after acquiring an additional 609,215 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Endava by 901.8% during the 4th quarter. Quadrant Capital Group LLC now owns 6,101 shares of the company's stock valued at $39,000 after acquiring an additional 5,492 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Endava by 733.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company's stock worth $29,000 after acquiring an additional 1,680 shares in the last quarter. Finally, Savant Capital LLC acquired a new stake in Endava in the fourth quarter worth $76,000. 62.23% of the stock is currently owned by institutional investors.

Endava Price Performance

Endava stock opened at $4.51 on Friday. The stock's 50 day moving average is $5.10 and its 200 day moving average is $6.76. Endava has a one year low of $4.21 and a one year high of $21.81. The firm has a market cap of $253.28 million, a P/E ratio of -40.96 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.39 and a quick ratio of 2.39.

About Endava

Endava PLC is a publicly traded technology services company specializing in digital transformation and agile software development. The firm helps enterprise clients design, build and manage custom software solutions across industries such as financial services, payments, retail, telecommunications and media. Its service offerings span end-to-end product design, customer experience, application development, quality engineering, DevOps, automation and artificial intelligence, all delivered through agile methodologies.

Founded in 2000, Endava has grown from a small software provider into a global IT partner.

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